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Chrysler’s Golden Handshake: Chrysler Corp. is offering...

From Times Staff and Wire Reports

Chrysler’s Golden Handshake: Chrysler Corp. is offering a buyout to its union-covered employees with as little as one year seniority to try to avoid layoffs. Spokesman Lee Sechler said 400 to 450 of about 60,000 Chrysler employees covered by a contract with the United Auto Workers union have signed up for the program. He declined to say how much it has cost or to give details of the formula used to arrive at the amount of an individual’s buyout. Sechler said the computation would be based mainly on an employee’s seniority with Chrysler.


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